Pacific Bay Trading Reinstatement Requirements

14517245.1

Pacific Bay Trading Reinstatement Requirements

For Immediate Release. Vancouver, British Columbia, August 13, 2020. David H.

Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX Venture: PBM, “Pacific Bay” or

the “Company”) reports that the Company has now filed its Annual Audited Financial

Statements for the year ended December 31, 2019 and its Interim Financial Statements

for the Period ended March 31, 2020. Accordingly, the British Columbia Securities

Commission published a Revocation Order on July 31, 2020, lifting the Cease Trade

Order (“CTO”) over the Company. In relation to the CTO, the TSX Venture Exchange

(the “Exchange”) required that the Company make application to the Exchange for

reinstatement of trading of its securities. The Company’s application was approved and

trading is expected to resume August 13, 2020.

In the course of its review of the Company’s compliance with continuing listing

requirements, the Exchange identified that the Company does not have an adequate

number of independent board members. One member of the Company’s three person

board is independent, and the Company has 90 days to add one or more independent

directors to its board.

Pacific Bay Minerals Ltd.

Per/

David H. Brett, MBA

President & CEO

604-682-2421

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Pacific Bay Minerals Ltd.

120 – 601 W. Cordova Street

Vancouver, BC, V6B 1G1

Phone: 604-682-2421